NL Industries, Inc. Financial Performance - NL Industries reported a net loss attributable to stockholders of $31.0 million, or $0.63 per share, in Q4 2025, compared to a net income of $16.5 million, or $0.34 per share, in Q4 2024 [1] - For the full year 2025, NL reported a net loss of $37.8 million, or $0.77 per share, compared to a net income of $67.2 million, or $1.38 per share, in 2024 [1] - The results for 2025 included an unrealized loss of $13.6 million related to marketable equity securities, contrasting with an unrealized gain of $9.8 million in 2024 [1] Kronos Worldwide, Inc. Performance - Kronos reported net sales of $418.3 million in Q4 2025, a decrease of $4.8 million, or 1%, compared to Q4 2024 [5] - For the full year 2025, Kronos' net sales were $1.9 billion, down $27.7 million, or 1%, from 2024 [5] - The decline in sales was primarily due to lower average TiO2 selling prices and changes in product mix, despite higher sales volumes in certain markets [5][7] Segment Performance - CompX's net sales for Q4 2025 were $37.7 million, down from $38.4 million in Q4 2024, while full-year sales increased to $158.3 million from $145.9 million in 2024 [2] - CompX's segment profit for Q4 2025 was $5.6 million, an increase from $4.9 million in Q4 2024, driven by higher sales and improved gross margins [2] Equity in Losses - NL recognized equity in losses of Kronos amounting to $25.3 million in Q4 2025, compared to losses of $4.0 million in Q4 2024 [3] - For the full year 2025, NL's equity in losses from Kronos was $33.9 million, a significant decline from equity earnings of $26.4 million in 2024 [3] Operational Challenges - Kronos experienced a loss from operations of $63.1 million in Q4 2025, compared to income of $28.6 million in Q4 2024, primarily due to higher unabsorbed fixed production costs and lower TiO2 selling prices [7] - The average capacity utilization for Kronos' production facilities was 77% in 2025, down from 96% in 2024, indicating operational challenges [7] Currency Impact - Fluctuations in currency exchange rates positively impacted Kronos' net sales by approximately $13 million in Q4 2025 and $24 million for the full year [6]